Solana Validators Approve Proposal for Faster Blockchain Transactions, Bug Fix Planned
Summary:
Solana validators have approved a proposal for a "Timely Vote Credits" system aimed at reducing the latency of consensus votes, potentially speeding up blockchain transactions. The system offers variable vote credits incentivizing swift voting, moving away from the traditional flat one vote credit. Implementation date is unknown but set for after Solana's version 1.18 upgrade. The blockchain is also addressing an "implementation bug" with a planned bug fix set for April 15.
A proposal aimed at cutting down the time taken for consensus "votes" on Solana has been approved by validators, making transactions on the blockchain potentially faster. Garnering 98% of the votes on April 9, the proposal introduces a "Timely Vote Credits" system within Solana. The arrangement seeks to alter the incentives offered to validators during "votes"; the validation of transactions is a key facet of Solana’s consensus process. Solana Labs mentioned that until now, validators receive a solid vote credit each time they cast a consensus vote on a block that is eventually ratified by the network.
Over the years, validators discovered they could maximize profits by postponing their votes just long enough to vote for the correct fork without penalty. The new suggestion, presented on March 14 by “zantetsu” from Solana validator Shinobi Systems, will introduce a varying amount of vote credits given to votes; more credits will be accorded to votes with minimal latency. “This will dissuade intentional ‘lagging,’ as any vote delay reduces the number of credits that the vote will earn,” elucidated Solana Labs.
Solana Compass currently reports that the blockchain is generating approximately 1,000 “non-vote,” or user transactions per second, and close to 2,000 “vote” transactions every second. There is no clarity as to the impact of the fresh mechanism, which is set to take effect after Solana’s version 1.18 upgrade scheduled for this month. This includes patches that address priority fees and network congestion issues on the chain.
Solana has been plagued by a series of transaction failures due to an "implementation bug" attributed to QUIC, a Google-developed protocol for data transfer that includes all nodes in the ongoing state of the network. A bug fix including a new configuration for QUIC is planned for April 15, provided there are no further glitches identified during testing.
Published At
4/10/2024 3:51:17 AM
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